Legal
Daily News Analysis
Four Charged By SEC Over Bribes To Venezuelan Official In Fraudulent Trading Scheme
8 May 2013
The Securities and Exchange Commission has charged four individuals with ties to a New York brokerage firm for paying bribes to a high-ranking Venezuelan finance official to secure bond trading business. DAP Global, a unit of Direct Access Partners, generated over $66 million in revenue for DAP through transaction fees on trade executions in Venezuelan sovereign or state-sponsored bonds for Banco de Desarrollo Económico y Social de Venezuela, which is based in Caracas, the SEC’s complaint says . A portion of this revenue was allegedly kicked back to María de los Ángeles González de Hern.
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Two Individuals Charged As US Government's Tax Evasion Crackdown Continues
30 April 2013
Two individuals have been charged by the Manhattan US Attorney in the US government’s crackdown on finance professionals assisting US citizens to evade taxes via offshore accounts. Edgar Paltzer, 56, who was a partner at a Swiss law firm and a registered attorney in New York State, and Stefan Buck, 32, formerly head of private banking at Bank Frey, face one count each of conspiring with US taxpayers and others to hide millions of dollars in offshore accounts and evade US taxes on income earned . According to the indictment, Paltzer began practicing at the Swiss law firm (which is unnamed) in 1998 in the fields of international private client work, wealth transfer planning, succession, trusts and foundations.
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SEC Charges Denver-Based CEO Of Investment Firm Over Insider Trading
16 April 2013
The Securities and Exchange Commission has charged the Denver-based owner of an investment firm with insider trading. The SEC says that Scott Reiman, founder and president of the investment firm Hexagon, received repeated tips about Delta Petroleum from the chief executive of a private investment firm, Tracinda, which was making a large investment in the oil and gas firm . Tracinda’s $684 million investment was made public on December 31, 2007, causing Delta Petroleum’s stock price to jump nearly 20 per cent.
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Broker Charged Over False Client Trade Order
16 April 2013
The Securities and Exchange Commission has charged a former employee of a brokerage in Connecticut with purposefully entering false orders on behalf of a client, a move which ultimately caused the brokerage to shut down due to losses. David Miller, an institutional sales trader living in Rockville Centre, NY, worked at Rochdale Securities . He has agreed to a partial settlement of the SEC's charges, and is pleading guilty in a parallel criminal case.
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Son Of Taiwan Business Tycoon Sues Over $15 Billion Asset Transfer To Bermuda Trusts
10 April 2013
The eldest son of a Taiwanese businessman has filed a lawsuit to void a transfer of $15 billion of assets which were switched to Bermuda-based offshore, non-charitable trusts, which he says threaten loss of control over a business empire. The son is Dr Winston Wong, offspring of the late Yung-Ching Wang, who founded Taiwan's Formosa Plastics Group . The suit, filed in the Supreme Court o.
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Features
FEATURE: A Look At The Mexican High Net Worth Client Market
2 April 2013
Mexico is home to the world’s richest man in the form of telecoms magnate Carlos Slim, but its wealth management market has not received the attention of Brazil’s. That may be changing as the emerging economy garners attention from the industry.
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EXCLUSIVE: Thomas Carroll On His First Few Months At The Helm Of GenSpring
27 March 2013
GenSpring Family Offices is in some ways a poster child for the multi-family office industry: it grew assets under management very quickly for many years but has recently had to tackle problems that come with this increasing scale.
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EXCLUSIVE INTERVIEW: Different US, European Client Data Rules Pose Big Challenges
12 March 2013
In this digital age, with stories of data thefts, security breaches and zealous government assaults on what they see as illegitimate secrecy, the issue of how to handle data protection is one of the most important facing the wealth management industry.
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FEATURE: Many Generation Y Donors Are "Taking The Reins" In Philanthropy
4 March 2013
A rising number of young individuals are “taking the reins” on their families’ philanthropic efforts, says Rebecca Eastmond, head of philanthropic services for EMEA at JP Morgan Private Bank.
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Interview: The Rise Of Transnational Marriages (And Divorces) Set To Continue
25 January 2013
As digital technology and accessible air travel combine to make communicating across borders easier, many people are taking the opportunity to live lives that make the most of global opportunities: in investments, colleges, the job market and - consequently - love. Indeed, transnational marriages are on the rise around the world . “With globalization, it’s easy for [people] to travel, so there are now a lot of transnational marriages,” says Evie Jeang, managing partner ofIdeal Legal Group, who is capitalizing on this in her practice.
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News and Features
Latest News
New CEO Takes Over At National Financial Partners
Advisors Missing Opportunities By Focusing Innovation On Current Clients - Fidelity
HighTower Eyes More Expansion With Financing Round, Hires
Peapack-Gladstone Hires From Wilmington Trust For New Jersey Private Banking Office
UBS Intensifies Its Commitment To Brazil With New CEO Hire From HSBC
Comment and Analysis
EXCLUSIVE: Citi Private Bank: Reaping Rewards From Client Feedback
WE Family Offices Sets Out To Reshape The Landscape Of UHNW Wealth Management
FEATURE: A Look At The Mexican High Net Worth Client Market
EXCLUSIVE: Thomas Carroll On His First Few Months At The Helm Of GenSpring
EXCLUSIVE: Industry Leaders Debate Hot Topics Of Client Centricity, Communications
Expert Commentary
- Top Story
- Opinion of the Week
- Industry Insight
- View from the Top
- Editor's Choice
- Investment Strategy
Wealthy Individuals' Financial Plans At Risk Amid False Sense Of Security - Survey
US Trust has identified a “disconnect” between goals and proactive wealth planning on a number of concerns including health, retirement, succession and life values.
Eliane Chavagnon
21 May 2013
Guest Opinion: An Earnings Report Every Hedge Fund Manager Should Review
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
Diane Harrison
20 March 2013
Q&A: Rockefeller & Co's Jimmy Chang On The Investment Environment
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
Harriet Davies
4 April 2013
INTERVIEW: Regular Risk Reviews Gain Traction In The Family Office World
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
Harriet Davies
9 April 2013
FEATURE: Twins And The Business Of Family
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
Charles Lowenhaupt
8 April 2013
Guest Opinion: Diversification In The Age Of Globalisation
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
Marc Odo
25 March 2013
